The Manufacturers Life Insurance Company Has $2.87 Million Stock Position in Zillow Group, Inc. (NASDAQ:Z)

The Manufacturers Life Insurance Company increased its stake in Zillow Group, Inc. (NASDAQ:Z) by 55.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,958 shares of the financial services provider’s stock after purchasing an additional 16,055 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zillow Group were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of Z. abrdn plc boosted its position in shares of Zillow Group by 98.0% in the third quarter. abrdn plc now owns 48,990 shares of the financial services provider’s stock worth $3,128,000 after buying an additional 24,247 shares during the period. Prudential PLC acquired a new stake in Zillow Group during the 2nd quarter worth about $474,000. IVY Lane Capital Management LLC grew its stake in Zillow Group by 35.0% during the 3rd quarter. IVY Lane Capital Management LLC now owns 135,000 shares of the financial services provider’s stock valued at $8,620,000 after acquiring an additional 35,000 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in Zillow Group during the 3rd quarter valued at about $6,267,000. Finally, Entropy Technologies LP acquired a new position in shares of Zillow Group in the 3rd quarter valued at about $1,370,000. Institutional investors and hedge funds own 71.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Zillow Group in a research note on Thursday, November 7th. Jefferies Financial Group raised their price target on Zillow Group from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Wedbush raised Zillow Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $50.00 to $80.00 in a research note on Monday, September 16th. Morgan Stanley increased their price objective on Zillow Group from $46.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their target price on shares of Zillow Group from $54.00 to $71.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.33.

Zillow Group Stock Performance

NASDAQ:Z opened at $82.22 on Friday. The firm’s 50-day moving average is $69.47 and its 200-day moving average is $57.24. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.13 and a current ratio of 3.13. The company has a market cap of $19.20 billion, a price-to-earnings ratio of -144.25 and a beta of 2.01. Zillow Group, Inc. has a 52-week low of $38.45 and a 52-week high of $86.88.

Insider Activity

In other news, General Counsel Bradley D. Owens sold 1,212 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.98, for a total value of $89,663.76. Following the sale, the general counsel now owns 31,739 shares of the company’s stock, valued at $2,348,051.22. The trade was a 3.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dan Spaulding sold 4,565 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $86.22, for a total transaction of $393,594.30. Following the completion of the transaction, the insider now directly owns 58,217 shares of the company’s stock, valued at approximately $5,019,469.74. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,591 shares of company stock worth $11,892,886 over the last quarter. 23.76% of the stock is currently owned by company insiders.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.